Meetings and Banquets
In addition to Strategic Hotels' on-site restaurant and bar offerings, our properties feature significant meeting and banqueting services that win critical acclaim from our group business clients, meeting planners and other catering customers, such as weddings and charity events. In total, our properties include more than 851,600 square feet of meeting, ballroom and banqueting space, and feature the latest décor, technology and layouts required of large association groups to small, highly-customized board meetings.
We regularly evaluate each property and market to ensure our meeting and banqueting offerings are aligned with our target customers' needs and add incremental revenue generation at our properties. We carefully analyze a variety of metrics to maximize total RevPAR, including sales mix, revenue per square feet, revenue per group room during both peak and off peak periods, as well as specific group yields. This allows us to ensure our space and catering offerings are on target and better enable us to fully leverage the maximum volume potential in any one market during specific periods.
While our meetings and banqueting expertise is vast, one example that captures our expertise can be found at the InterContinental Miami. Our research identified a need for additional breakout and exhibition space to complement our existing offerings, yet there was no available space at the property itself. Undeterred, we were able to creatively negotiate the lease of underused retail space between the hotel and its neighboring office building and converted it into more than 14,000 square feet of new meeting rooms. This conversion has resulted in positive response from meeting planners and guests alike, and is indicative of our ability to deliver valuable ROI projects that enhance the overall value of our properties.